Bank of Georgia Group PLC - Tbilisi-based lender - Receives regulatory approval from Armenian Competition Protection Commission and the Central Bank of Armenia for the acquisition of Ameriabank CJSC. Says it will now move "swiftly" to completion.
In February, Bank of Georgia announced the acquisition of Ameriabank for USD303.6 million, opening the door into one of the Caucasus region's "fastest-growing economies." Bank of Georgia said that the Yerevan-based bank has "an attractive franchise, in an attractive market, with similar characteristics to Georgia".
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By Sophie Rose, Alliance News senior reporter
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Bank Of Georgia Group (BGEO)
